What does the contraction ain't mean? Is it appropriate to use it in formal settings?
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Ain't is the same as aren't and means are not but it is also used for am not, is not, has not, have not.
It definitely should not be used in formal settings.
From the Merriam-Webster:
Quoting @nohat :
It is a colloquial word, informal, so probably shouldn't be used in formal settings,
Replaceable with am not, is not, and are not. It used more informal/colloquial conversations.